News Corp. said it is evaluating options for its News America Marketing business that could include a sale, which would leave the publisher of the Wall Street Journal and New York Post more purely focused on media while removing what’s been a troubled unit. The review of News America, which offers in-store marketing and shopper circulars, “will result in enhanced shareholder value, as we seek to streamline our company, with the aim of greater transparency and profitability,” News Corp. Chief Executive Officer Robert Thomson said in a statement. Media-focused investment bank Allen & Co. is advising on the process. News America has been something of an albatross for News Corp. in recent years. The company recognized noncash impairment charges totaling $165 million related to News America in the quarter ended March 2018, and the unit was the subject of a lawsuit by consumer brands that led to a $250 million settlement in 2016. The marketing unit is also suffering from a version of the same ailment afflicting News Corp.’s print-media properties: declining circulation. Revenue at News America dropped 7 percent in the nine months ended March 31, with the company mainly citing lower home-delivered revenue amid a drop in volume. News Corp. shares rose as much as 2.7 percent to $12.57 in New York trading Tuesday. The stock is up more than 10 percent so far this year, though down 22 percent in the past 12 months. —Bloomberg News Continue reading at 'Advertising Age'
[ Advertising Age | 2019-06-18 20:05:16 UTC ]
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Written By: Philip Stone and Lisa Campbell Publication Date: Mon, 07/02/2011 - 09:24 The supermarket sector was the only winner in the 2010 retail trade, with sales jumping 7% year-on-year. Estimates based on data from Nielsen BookScan show that book sales in the UK were down by 4% in 2010 in... Continue reading at The Bookseller
[ The Bookseller | 2011-02-07 00:00:00 UTC ]
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By Tim Conneally, Betanews Google on Thursday finally launched a renewed web-based Android Market that integrates with a user's Google account and lets him shop for applications and send them to the various Android-powered devices linked to the account. This new shop marks the industry-wide... Continue reading at Betanews
[ Betanews | 2011-02-05 00:00:00 UTC ]
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Written By: Lisa Campbell Quercus has announced that its market share has increased by 103% in a year. The publishing group responsible for Stieg Larsson's best-selling Millennium Trilogy, revealed the group dominated 1.37%, up from 0.66% in 2009 in a market that declined by 1.7%. Quercus chief... Continue reading at The Bookseller
[ The Bookseller | 2011-02-02 00:00:00 UTC ]
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Written By: Charlotte Williams The Publishers Association [PA] has attacked the culture secretary's decision to allow communications watchdog Ofcom to "delay" the Digital Economy Act. Culture Secretary Jeremy Hunt announced yesterday [1st February] that Ofcom is to assess whether the Act's... Continue reading at The Bookseller
[ The Bookseller | 2011-02-02 00:00:00 UTC ]
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Hearst Corp. announced today that it has made an offer of 651 million euros (or about $889 million) for Lagardere's international press and magazine business, including 102 titles in 15 countries, and 50 related Web sites. The deal includes publishing rights to Elle in 15 countries as well as 10... Continue reading at Folio Magazine
[ Folio Magazine | 2011-01-31 00:00:00 UTC ]
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Demand Media started trading on the New York Stock Exchange this week, making it one of the first IPOs of 2011 and certainly one of the largest media IPOs that will be seen all year. Continue reading at Folio Magazine
[ Folio Magazine | 2011-01-27 00:00:00 UTC ]
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Pearson, the publisher of the Financial Times, said it expects its headline company operating profits to balloon by around 20% in 2010, helped by the performance of its flagship business newspaper. Continue reading at Media Week
[ Media Week | 2011-01-19 00:00:00 UTC ]
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